CLSA Initiates Coverage on Ericsson (ADR) to Sell

CLSA Initiates Coverage on Ericsson (ADR)(NASDAQ:ERIC). The shares have been rated Sell. The rating by CLSA was issued on Apr 12, 2016.

In a different note, Wells Fargo said it Initiates Coverage on Ericsson (ADR), according to a research note issued on Mar 11, 2016. The shares have been rated ‘Market Perform’ by the firm. On Jan 21, 2016, Goldman Sachs said it Downgrades its rating on Ericsson (ADR). The shares have been rated ‘Sell’ by the firm. On Jan 15, 2016, Deutsche Bank said it Downgrades its rating on Ericsson (ADR). The shares have been rated ‘Hold’ by the firm.

Ericsson (ADR) (ERIC) shares turned negative on Fridays trading session with the shares closing down -0.1 points or -1.03% at a volume of 36,18,976. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $9.67. The peak price level was also seen at $9.67 while the days lowest was $9.59. Finally the shares closed at $9.63. The 52-week high of the shares is $12.96 while the 52-week low is $8.43. According to the latest information available, the market cap of the company is $31,828 M.

Ericsson (ADR)(ERIC) last announced its earnings results on Jan 27, 2016 for Fiscal Year 2015 and Q4.Company reported revenue of $8.83B. Analysts had an estimated revenue of $8.50B. Earnings per share were $0.30. Analysts had estimated an EPS of $0.24.

Telefonaktiebolaget LM Ericsson (Ericsson) is a provider of communications technology and services. Ericsson offers services software and infrastructure for mobility broadband and the cloud in telecom industry and other sectors. Its two core businesses are Radio Core and Transmission and Telecom Services. Ericsson operates in four business segments: Networks Global Services Support Solutions and Modems. It invests in five targeted areas: Internet protocol (IP) Networks; Cloud; operations and business support systems (OSS) and business support systems (BSS); TV and Media and Industry and Society. Radio Core and Transmission as well as IP Networks and Cloud report into Networks segment and Telecom Services report into Global Services segment. The product and software deliveries of OSS and BSS TV & Media report into Support Solutions segment while services related to these areas report into Global Services segment. Industry and Society reports into Global Services segment.

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